July 10 (Reuters) - Carnival Corp said on Friday it was planning to resume operations in a phased manner and would operate with a smaller fleet on its return, months after suspending trips due to the COVID-19 pandemic. The company's shares, that have lost more than two-thirds of their value this year, rose as much as 11% to $16.12 in morning trading. The world's largest … [Read more...]
Carnival Corporation Downgraded to Junk Status
June 23 (Reuters) - Ratings agency Standard & Poor's on Tuesday downgraded bonds of Carnival Corp to junk status, forecasting continued weak demand for the cruise industry hammered by the COVID-19 pandemic. Standard & Poor's cut its rating on the world's biggest cruise operator's secured bonds to 'BB+' from 'BBB-', and its unsecured bonds to 'BB-' from 'BBB-'. Both … [Read more...]
Carnival Sees More Pain After Posting $4.4 Billion Loss
By Uday Sampath Kumar June 18 (Reuters) - Carnival Corp reported a record $4.4 billion in quarterly losses on Thursday, as the COVID-19 pandemic crippled the world's biggest cruise operator and forced it to take major write-downs on the disposal of now redundant ships. The Florida-based company said it had $7.6 billion available at the end of May, but was burning $650 … [Read more...]
Carnival Corporation to Launch Four News Cruise Ships in 2020
The world’s largest cruise company is getting ready to launch four new ships across four global brands in 2020. Carnival Corporation on Tuesday gave an update into its ongoing fleet enhancement strategy, which is set to introduce a total of 16 new ships through 2025. This year, Carnival is set take delivery of four new ships across four of its brands: the … [Read more...]
Carnival Cuts 2019 Profit on Cuba Travel Ban, Weak Europe Demand
June 20 (Reuters) - Carnival Corp cut its profit forecast for the year on Thursday, anticipating a hit from the Trump administration's sudden ban on cruises to Cuba and weakening demand in Europe over political uncertainty, sending its shares down over 7%. The company's profit warning also dragged down Carnival's rivals, Norwegian Cruise Line Holdings Ltd and Royal Caribbean … [Read more...]